Based on how "fast" a lot of the competing Android phones run even if equipped with high spec CPU hardware, I doubt it. You're confusing the "phone" being slow with the raw speed of the CPU. You'd be hard pressed to find an Android phone that does its general functions faster than even the 4S.
How to put it... That's simply not true.
I have both a 4S and a Galaxy Nexus. Galaxy Nexus seems at least as fast as the 4S, it actually loads websites faster.
Did you just argue that one phone processes things faster than another by comparing page load speeds, when one is LTE and the other is not